Altameer Arabian launches Rivan compound, the company’s first project in the New Administrative Capital (NAC), with EGP 3bn investments.
Marzouk Mansour, CEO of Altameer Arabian, said Rivan is the first serviced apartment project in the NAC and also the company’s debut in the Egyptian market.
Rivan shall be built on 71,000 sqm area and includes 700 serviced apartments with various spaces ranging from 77 to 500 sqm.
The company provides various payment plans, which are compatible with the purchasing power of targeted customers. The payment period is up to 10 years. Besides, Rivan has special offers on cash payment.
The company has already obtained the required ministerial approval to begin developing the project and has offered the first phase for sale.
Mansour said the company assigned international and local engineering consulting offices to design Rivan in a unique and different way than other projects in the New Capital.
NAC accounts for a large share of the real estate market, being a promising investment opportunity, especially with the expected high demand
Salem As-Sudais, a board member and Saudi partner in the company, said Rivan will be promoted in Gulf region within the company’s plan to export Egyptian property benefiting from its strong presence in the Gulf market.
As-Sudais added that Altameer Arabian plans to contract with foreign companies to market the project, besides participating in local and foreign exhibitions.
He notes that the company intends to expand in the Egyptian market in the coming period, and
eyes EGP 500m sales this year.